Feb 11 (Reuters) - Air-taxi maker Archer Aviation ( ACHR )

said on Tuesday it has raised $300 million in a funding

round that consisted of institutional investors including

accounts managed by BlackRock ( BLK ).

Archer expects the capital raise to help it accelerate the

development of its hybrid aircraft platform and further

reinforce its balance sheet.

"We are raising additional capital to help us invest in

critical capabilities like composites and batteries to help

enable us to capture this opportunity and more," CEO Adam

Goldstein said.

The additional capital brings Archer's total liquidity to

about $1 billion currently, the company said on Tuesday.

The company's statement did not disclose the valuation at

which the new capital was raised.

The latest fundraising comes amid a cash crunch in the

electric vertical takeoff and landing (eVTOL) industry, driven

by technological and regulatory challenges. However, analysts

believe Archer is well positioned to endure these difficulties

and achieve certification.

The company previously raised $430 million in December

through an equity offering that had defense technology company

Anduril and existing investors such as United Airlines

and Stellantis ( STLA ), as well as new backers such as

Wellington Management and Abu Dhabi investment holding company

2PointZero, participate in the fundraising.

Santa Clara, California-based Archer said in its preliminary

fourth-quarter results that its adjusted operating expenses were

in line with its forecast range of $95 million to $110 million.

It also said it does not expect its total adjusted operating

expenses for the first quarter of 2025 to materially increase

above its Q4 guided range.